Holta v. Zerbetz (In Re Anchorage Nautical Tours, Inc.)

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• finding that assigned vessel remained property of the debtors’ estate since notice and a hearing was not provided to creditors
• explaining that corporate officers owe a fiduciary duty to the corporate debtor in possession and to the creditors
• following Kauffman v. Dreyfus Fund, Inc., 434 F.2d 727 (3d Cir. 1970), and Alaska law to hold that the sole shareholder and principal of a corporation had no standing to appeal an order against the corporation
• surrender of major asset, which was to fund debtors' business operations, was beyond ordinary course of business and thus creditors were entitled to notice and hearing
• debtor’s surrender of major asset intended to generate revenues to fund debtor’s business operations not done in ordinary course of business, and thus, notice and hearing required
• sole shareholder of corporation that is in turn majority shareholder of debtor corporation does not have standing to appeal the court-ordered disposition of debtor corporation’s funds

Source: CourtListener parenthetical corpus (CC0).